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Gold Forecast — March 13th 2019

March 13, 2019 at 17:19by K. Prabhu

In this video, the Trader Guy looks at the commodity, gold for the March 13th session.

Gold/USD — The Tuesday session saw the gold market to rally strongly. The market has now broken the resistance at 1,300. A break above the candlestick from Tuesday is a bullish sign. The next target to the upside is 1,325. The 200-day EMA below looks supportive. Also, the hammer candlestick from last week on the daily chart indicates support below. With both the central banks, the ECB and the Fed remaining dovish in their stance on monetary policy, it makes sense that gold markets will rally during this year. Hence, you should utilize short-term pullbacks as potential entries to buy gold, reducing risk, and use your stop-loss effectively.